Tax the money sent home by immigrants

Given the softening of our economy, it is common sense to consider new revenue-raising initiatives, including taxing private (non-commercial) funds which are repatriated or remitted from this country.

Each year billions of dollars ($5 billion-plus) are sent offshore by way of remittances to the families and friends of those who now live and work in this country.

This money is lost to the Australian economy and could, in fact, be described in many instances as a form of unofficial or publicly subsidised foreign aid.

Our government already makes substantial and generous provision for this form of international assistance. A tax of, say, 25 per cent on all such remitted funds would seem not unreasonable – a policy initiative which would generate substantial revenue which could be used for the benefit of all Australians in so many areas of social need.